Let the speculation begin on what those two installments will be about.

"American Horror Story launched the modern limited series revolution and—as evidenced by the most recent installment Roanoke—it remains as vital today as when Murder House stunned audiences six years ago," John Landgraf, CEO of FX Networks and FX Productions, said in a statement. "Each new chapter is a cultural event, beloved for every new twist in imagery, style, cast and plot. We are thrilled that Ryan Murphy, Brad Falchuk and the entire creative team will continue to deliver the groundbreaking, celebrated American Horror Story for years to come."

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So far the American Horror Story franchise has won 15 Emmys. The last installment, American Horror Story: Roanoke, had a combined audience of 10.9 million total viewers.

"When Ryan and Brad came to us seven years ago with the idea for a horror series structured as an anthology, with a group of actors returning year after year, in different roles, settings and time periods, we were in awe of the sheer originality and ambition of their vision," Dana Walden and Gary Newman, Fox Television Group chairmen and CEOs, said in a joint statement. "They've since delivered six fantastic installments which have rightfully attracted millions of viewers, critical raves and dozens of awards. Ryan and Brad are to be congratulated on this remarkable multi-year pickup and we are grateful to John Landgraf and our partners at FX for their extraordinary support."

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Could one of these upcoming installments be the hyped AHS: Coven and AHS: Murder House crossover Murphy discussed?

"We do know what we're going to do," Murphy told the crowd at EW's PopFest. "It's not going to be next season, but we are going to do a season that's a crossover between Murder House and Coven together, which is very bizarre."

Over the years, AHS has starred Paulson, Jessica Lange, Kathy Bates, Angela Bassett, Lily Rabe, Evan Peters, Frances Conroy, Dylan McDermott, Taissa Farmiga, Lady Gaga, Emma Roberts and many other famous faces. The series has been connecting past seasons, most recently with Paulson playing her AHS: Asylum character during AHS: Roanoke. She previously played her AHS: Murder House character on AHS: Hotel as well.